Policy News – October 28, 2020

Last Sunday evening, the Senate held a special session to end debate on Judge Amy Coney Barrett’s nomination to the Supreme Court. The chamber has confirmed Judge Barrett to the bench , finalizing a majority republican court before the election. With just seven days remaining until Election Day, federal lawmakers and the Trump Administration have set their eyes on closing out the 2020 election season. To this end, necessary legislative actions such as passing FY21 appropriations bills and a fourth coronavirus relief stimulus package will likely materialize in the weeks following Election Day. 

Last week, the Small Business Administration’s Office of Advocacy released a new infographic regarding the latest figures on America’s 31 million small businesses. Likewise, the agency also published Frequently Asked Questions, which highlights the latest small business statistics in one place. To view Advocacy’s new material, click here.

The Department of Labor’s Wage and Hour Division released a Notice of Proposed Rule Making (NPRM) and request for comments on the interpretation of independent contractor status rule under the Fair Labor Standards Act. 

 

BILLS OF INTEREST

  • Rep. Ro Khanna (D-CA-17) introduced a bill to amend the Internal Revenue Code of 1986 to impose a tax on employers whose employees receive certain Federal benefits.
  • Rep. Barry Loudermilk (R-GA-11) introduced a bill to require the Federal banking agencies to exclude Paycheck Protection Program loans from certain asset calculations.
  • Rep. Chris Jacobs (R-NY-27) introduced a bill to prohibit certain business concerns from receiving assistance from the Small Business Administration, and for other purposes.
  • Rep. Michael Cloud (R-TX-27) introduced a bill to amend the Internal Revenue Code of 1986 to provide emergency savings accounts for small businesses.
  • Rep. Earl Blumenauer (D-OR-3) introduced a bill to amend the Internal Revenue Code of 1986 to modify the energy tax credit to apply to qualified distributed wind energy property.

 

At The Agencies

U.S. Department of Labor 

The U.S. Department of Labor acts to help American workers and employers during the coronavirus pandemic. 

 

U.S. Department of Commerce

U.S. Department of Commerce strengthens commercial ties and expands digital attaché program in the UAE.   

 

Small Business Administration

The SBA offers disaster assistance to businesses and residents of North Carolina affected by Hurricane Dorian.